Orkla is hosting a capital markets day in London today, at which the Group will announce its new main financial goals. Its strategy of being a leading branded consumer goods company remains unchanged.

The Board of Directors will propose a dividend policy aimed at increasing the dividend from its current level of NOK 2.60 per share, normally to within 50-70% of Earnings Per Share.

Orkla targets long-term organic growth at least in line with market growth. By 2021, Orkla aims to achieve growth in underlying EBIT margins of at least 1.5 percentage points, adjusted for M&A and foreign exchange.

Strategically attractive acquisitions will continue to be a key part of Orkla's growth strategy and value creation model. At the same time, the Group will focus more strongly on reducing complexity through more active portfolio management.

The Group has ambitions of achieving a marked improvement in working capital efficiency, targeting a reduction of 3 percentage points in net working capital/net sales value by 2021.

"Orkla has transitioned from a conglomerate to a leading branded consumer goods company. We continue to increase the Group's profitability by improving efficiency in every part of our value chain. Orkla will strengthen its leading local brands while reducing the complexity of its portfolio. We are laying the foundation for greater future growth by strengthening our presence in higher-growth channels, categories and geographies. By delivering strong innovations, we will continue to be consumers' first choice," says Orkla President and CEO Peter A. Ruzicka in a commentary.

The presentations scheduled to be held at today's event are attached herewith, and a webcast may be seen at www.orkla.com.

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Orkla is a leading supplier of branded consumer goods to the grocery, out-of home, specialised retail, pharmacy and bakery sectors. The Nordic and Baltic regions and selected countries in Central Europe are Orkla’s main markets. The Orkla Group also holds strong positions in selected product categories in India.